Insider Selling: ConocoPhillips (NYSE:COP) SVP Sells 9,487 Shares of Stock

Key Points

• ConocoPhillips SVP Andrew Lundquist sold 9,487 shares for approximately $1.28 million, reducing his position by 49.72% to 9,593 shares.
• ConocoPhillips reported quarterly earnings of $3.24 per share, exceeding estimates by $0.34, while revenue rose 32.4% year over year to $19.52 billion.
• The company declared a quarterly dividend of $0.84 per share, equivalent to an annualized $3.36 dividend and a 2.5% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $140.29.

ConocoPhillips (NYSE:COP - Get Free Report) SVP Andrew Lundquist sold 9,487 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $135.15, for a total value of $1,282,168.05. Following the sale, the senior vice president owned 9,593 shares of the company's stock, valued at $1,296,493.95. This trade represents a 49.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

ConocoPhillips Price Performance

Shares of NYSE COP traded down $1.44 during mid-day trading on Monday, reaching $133.43. The company had a trading volume of 3,403,229 shares, compared to its average volume of 8,432,340. The company has a 50-day moving average price of $115.30 and a two-hundred day moving average price of $117.77. The stock has a market cap of $160.30 billion, a PE ratio of 17.65, a P/E/G ratio of 1.43 and a beta of 0.11. The company has a current ratio of 1.54, a quick ratio of 1.39 and a debt-to-equity ratio of 0.35. ConocoPhillips has a 1-year low of $85.57 and a 1-year high of $135.88.

ConocoPhillips (NYSE:COP - Get Free Report) last announced its earnings results on Thursday, August 6th. The energy producer reported $3.24 EPS for the quarter, beating the consensus estimate of $2.90 by $0.34. The business had revenue of $19.52 billion during the quarter, compared to the consensus estimate of $18.79 billion. ConocoPhillips had a return on equity of 14.72% and a net margin of 14.22%.ConocoPhillips's revenue was up 32.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.42 earnings per share. On average, equities analysts anticipate that ConocoPhillips will post 10.46 earnings per share for the current year.

ConocoPhillips Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, August 17th. This represents a $3.36 dividend on an annualized basis and a yield of 2.5%. ConocoPhillips's dividend payout ratio is currently 44.44%.

Analyst Upgrades and Downgrades

COP has been the topic of several analyst reports. Mizuho dropped their target price on shares of ConocoPhillips from $150.00 to $146.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 7th. Susquehanna raised their price objective on shares of ConocoPhillips from $155.00 to $161.00 and gave the stock a "positive" rating in a research note on Tuesday, August 11th. BMO Capital Markets decreased their price objective on shares of ConocoPhillips from $140.00 to $135.00 and set an "outperform" rating for the company in a research note on Wednesday, May 13th. Truist Financial lifted their price objective on shares of ConocoPhillips from $115.00 to $130.00 and gave the stock a "hold" rating in a research report on Monday, August 10th. Finally, Morgan Stanley raised their target price on ConocoPhillips from $147.00 to $151.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 19th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, seven have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $140.29.

Institutional Investors Weigh In On ConocoPhillips

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Patten Group Inc. increased its holdings in ConocoPhillips by 1.5% in the first quarter. Patten Group Inc. now owns 5,447 shares of the energy producer's stock valued at $719,000 after buying an additional 83 shares during the last quarter. IFC Advisors LLC increased its holdings in shares of ConocoPhillips by 0.4% in the 1st quarter. IFC Advisors LLC now owns 20,182 shares of the energy producer's stock valued at $2,664,000 after acquiring an additional 84 shares during the last quarter. Cornerstone Planning Group LLC raised its position in shares of ConocoPhillips by 9.6% during the 1st quarter. Cornerstone Planning Group LLC now owns 1,006 shares of the energy producer's stock worth $124,000 after acquiring an additional 88 shares in the last quarter. Blue Trust Inc. raised its position in shares of ConocoPhillips by 0.4% during the 1st quarter. Blue Trust Inc. now owns 21,144 shares of the energy producer's stock worth $2,791,000 after acquiring an additional 92 shares in the last quarter. Finally, Sigma Planning Corp boosted its holdings in ConocoPhillips by 0.6% in the first quarter. Sigma Planning Corp now owns 16,062 shares of the energy producer's stock valued at $2,120,000 after purchasing an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 82.36% of the company's stock.

About ConocoPhillips

ConocoPhillips NYSE: COP is a Houston-based international energy company focused on exploration and production of oil and natural gas. Formed in 2002 through the merger of Conoco Inc and Phillips Petroleum Company, the firm operates as an independent upstream company that explores for, develops and produces crude oil, natural gas and natural gas liquids across a portfolio of global assets.

The company's activities span conventional and unconventional resources and include onshore and offshore operations in multiple regions around the world.

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